Historic Bank Expands Geographic Presence
Alexandria, VA – Burke & Herbert Bank, a nearly 169 year-old, locally-owned community bank headquartered in Alexandria, Virginia is pleased to announce that it will be opening two locations in Fredericksburg, Virginia, representing the Bank’s first physical presence in this market.
The Bank will establish its Fredericksburg market headquarters at 417 Wolfe Street in Old Town Fredericksburg, with occupancy planned later this month. The facility will serve as the base of operations for recently-hired Fredericksburg area resident Greg Mellors, Senior Vice President, Commercial Banking, who is leading the Bank’s commercial expansion efforts. Fredericksburg-area locals Jeff Rouse and Lee Pugh, both of whom joined Burke & Herbert Bank earlier this year as Commercial Relationship Managers, also will be based at the Wolfe Street office. In addition, the Bank plans to add mortgage loan and wealth services specialists to the Fredericksburg market team.
Later in the summer (tentatively early August), Burke & Herbert Bank will open a branch in Fredericksburg at 2521 Cowan Boulevard in the Cowan Center on the Mary Washington Hospital Campus. The branch will offer the Bank’s full array of financial products and services for local businesses and individual consumers and will feature convenient ATM, night drop, and drive-up teller services. To manage this branch, the Bank has tapped another local Fredericksburg banker, Jeffrey Davis. Mr. Davis brings more than 25 years of financial services experience to his new role at Burke & Herbert Bank, most recently serving as a Financial Sales Manager for First Citizens Bank. His prior experience includes business development and customer service roles at SunTrust and National Bank of Fredericksburg, among others.
“We’re thrilled to open our new market headquarters office in Old Town Fredericksburg – a market that shares many characteristics with our hometown of Alexandria – and delighted with the convenient Cowan Center location for our new branch,” said David P. Boyle the Bank’s President & Chief Executive Officer. “As we extend our presence to Fredericksburg and the surrounding markets, we are bringing a strong commitment to this community. We are confident that our unique brand of personal attention and service, which has been our signature for generations, will be well received by area businesses and residents.”
Burke & Herbert Bank announced its entry into the greater Fredericksburg market earlier this year as part of its plan for growing the Bank with emphasis on building additional commercial banking and borrowing relationships. The Bank currently has a $1.8 billion loan portfolio, comprised primarily of commercial loans. Total deposits stood at $2.9 billion at the end of the first quarter of 2021.
Burke & Herbert Bank is the oldest bank in the Commonwealth of Virginia and the oldest continuously operating bank in the Washington, DC area. The Bank offers a full range of personal and business banking products and services designed to meet customers’ banking, borrowing, and investing needs. Burke & Herbert Bank is headquartered in Alexandria and operates more than 20 branches in northern Virginia.
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